Rensselaer Republican, Volume 26, Number 6, Rensselaer, Jasper County, 5 October 1893 — FOR A SOUND CURRENCY. [ARTICLE]

FOR A SOUND CURRENCY.

Preddant Cleveland Wrltoa a better on the Financial Situation. In reply to a letter from oGov. Northen, es Georgia, President Cleveland gives his position on financial matters as follows: Executive Mansion, i Washington, D. C., Sept. 25. J The Hon. W. J. Northen: My Dear Sir—l hardly know how to reply to your letter of the 15th inst.lt seemsXo me that I am quite plainly on record concerning the financial question. My letter accepting the nomination to the presidency, when read in connection with the message lately sent to the Congress in extraordinary session, appears to me to be very explicit. I want a currency that is •table and safe in the hands of our people. 1 will not knowingly be implicated in a condition that will justly make me In the least degree answerable to anv laborer or farmer in the United States for a shrinkage in the purchasing power of the dollar he has received for a full dollar’s worth of work or for a good dollar’s worth of product of his soil. I not only want our currency to be of •uch a character that all kinds of dollars will be of equal 1 pnrchadng power at home, but I want it to be of such a character as will demonstrate abroad our wisdom and good faith, thus placing us upon a firm foundation and credit among the nations of the earth. 1 want our financial conditions and laws relating to our currency so safe and reassuring that those who have money will spend and invest It in business and new enterprises instead of hoardinc it. Yon cannot cure 1 right by calling it foolish and unreasonable, and you cannot prevent the frightend man from hoarding his money. I want good, sound and stable money, and a condition of confidence that will keep it in use. Within the limits of what I have written, I am a friend of silver, but I believe its proper place in our currency can only be fixed by a re-adiustment of our currency legislation ana the inauguration of a consistent and comprehensive financial scheme. I think such a thing can only be entered upon profitably and hopefully after the repeal of the law which is charged with all our financial woes. In the present state of the public mind this law cannot be built upon nor patched in •uch a way as to relieve the stagnation. I am, therefore, opposed to the free and unlimited coinage of silver by this country alone and Independently, and I am in favor of the immediate and unconditional repeal of the purchasing clause of the socalled Hherman law. I confess-1 am astonished by the opposition in the Senate to such prompt action as would relieve the present unfortunate situation. My dally prayer is that the delay occasioned by such opposition may not be the cause of plunging tho country Into deepei depression than It has yet known, and that the Democratic party may not N lastly held responsible for such a catastropha Youil, very truly. Gboveb Cijevei.and.